HBK Sorce Advisory LLC Cuts Position in Micron Technology, Inc. (NASDAQ:MU)

HBK Sorce Advisory LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,562 shares of the semiconductor manufacturer’s stock after selling 238 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Micron Technology were worth $389,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MU. Sei Investments Co. grew its holdings in shares of Micron Technology by 12.8% during the first quarter. Sei Investments Co. now owns 350,644 shares of the semiconductor manufacturer’s stock valued at $27,314,000 after buying an additional 39,693 shares during the last quarter. Prudential PLC purchased a new stake in shares of Micron Technology during the first quarter valued at approximately $1,672,000. Brighton Jones LLC grew its holdings in shares of Micron Technology by 12.3% during the first quarter. Brighton Jones LLC now owns 2,909 shares of the semiconductor manufacturer’s stock valued at $227,000 after buying an additional 318 shares during the last quarter. Baird Financial Group Inc. grew its holdings in shares of Micron Technology by 9.2% during the first quarter. Baird Financial Group Inc. now owns 200,423 shares of the semiconductor manufacturer’s stock valued at $15,611,000 after buying an additional 16,953 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its holdings in shares of Micron Technology by 52.5% during the first quarter. Zions Bancorporation N.A. now owns 2,121 shares of the semiconductor manufacturer’s stock valued at $165,000 after buying an additional 730 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at $94,712,410. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 306,890 shares of company stock valued at $32,496,327. Corporate insiders own 0.32% of the company’s stock.

Micron Technology Stock Down 0.4 %

Shares of MU stock opened at $122.20 on Thursday. The company has a market capitalization of $135.32 billion, a price-to-earnings ratio of -35.42 and a beta of 1.27. The company’s fifty day moving average price is $98.37 and its 200-day moving average price is $84.32. Micron Technology, Inc. has a one year low of $58.03 and a one year high of $130.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period last year, the company posted ($2.03) earnings per share. Sell-side analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be paid a dividend of $0.115 per share. The ex-dividend date is Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.38%. Micron Technology’s payout ratio is -13.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MU shares. Susquehanna increased their price target on shares of Micron Technology from $90.00 to $112.00 and gave the company a “positive” rating in a report on Monday, December 18th. TD Cowen raised their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Mizuho raised their target price on shares of Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Micron Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Finally, Stifel Nicolaus raised their target price on shares of Micron Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $121.35.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.